Ethereum is trying to build a long term recovery pattern, but the $2,400 to $2,500 resistance zone is still blocking momentum. A breakout above that area could reopen the path toward $2,800 first, while the larger chart still points to $4,900 as the major target.
Ethereum Eyes $4,900 Resistance as Chart Shows Possible Bottom Pattern
Ethereum traded near $2,303 on the weekly $ETH/USDT chart shared by Ray, while price continued to recover from the trendline support area.
The chart shows $ETH holding above a long rising support line that has guided major lows since 2020. Ethereum recently bounced from the same trendline area, forming what the chart labels as the “Head” in a possible inverse head and shoulders setup.
Ethereum Inverse Head and Shoulders Chart: Source: Ray on X
The left shoulder formed after $ETH dropped from the 2025 high area and recovered near the mid range. The head formed later, when price fell deeper toward the rising support line before rebounding. The chart now marks a possible right shoulder as $ETH trades around the $2,300 area.
This structure matters because an inverse head and shoulders pattern can show a possible trend reversal. However, the setup remains incomplete until $ETH breaks above the neckline area. On this chart, that major neckline sits near $4,900, close to the previous cycle resistance.
The $4,900 level is the first major upside target marked on the chart. It also lines up with the dashed horizontal resistance from Ethereum’s earlier peak zone. A weekly close above that level would confirm stronger momentum and open the path toward the higher target marked at $8,300.
For now, $ETH still needs to clear several lower resistance areas before reaching $4,900. The chart shows price recovering, but it has not confirmed a full breakout yet.
If Ethereum fails to hold above the rising trendline structure, the bullish pattern would weaken. Until then, the chart keeps $ETH in a long term recovery setup, with $4,900 as the main resistance and $8,300 as the larger upside level.
Ethereum Rejected at Weekly 200MA as $2.1K Support Stays Key
Ethereum traded near $2,309 on the weekly $ETH/USD chart shared by Daan Crypto Trades, after price failed to break above the weekly 200 moving average.
The chart shows $ETH pushing into the $2,400 to $2,500 area before losing momentum. That zone includes the weekly 200MA near $2,457 and the weekly 200EMA near $2,557. Daan said rejection there is a logical place for Ethereum to consolidate.
Ethereum Weekly 200MA Rejection Chart: Source: Daan Crypto Trades on X
The lower support area remains near $2,100. The chart marks that level as a key higher timeframe zone, and $ETH recently reclaimed it after the sharp drop earlier this year. Holding above $2,100 keeps Ethereum inside its current recovery structure.
However, the $2,400 to $2,500 band now acts as the main resistance. A clean break above that range would give $ETH another chance to test $2,800, which has acted as an important level several times over the past few years.
The chart also shows the 2021 all time high near $4,864, far above the current price. Before $ETH can move toward higher targets, it needs to clear the moving average resistance and reclaim the $2,800 zone.
For now, Ethereum remains between support and resistance. A hold above $2,100 would keep the consolidation controlled, while a break below it would weaken the higher timeframe setup.
